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This research report on the fall protection market covers sizing and forecast, share, industry trends, growth drivers, and vendor analysis. The study includes insights by Product Type (soft goods, hard goods, installed systems, access systems, rescue kits, services, and others), End-user (construction, mining, oil & gas, energy, transportation, telecom & utility, general industry, and others), and Geography (North America, Europe, APAC, Latin America, and MEA)
The fall protection market is likely to witness rapid growth on account of a high number of accidents and incidences in construction, oil & gas, mining, and transportation industries. The increase in construction output and the rise in the aging workforce are likely to be other significant factors boosting the adoption of fall protection equipment. Moreover, the growing investment in renewable energies, such as wind and solar, is expected to increase demand for high-end safety equipment for workers that inspect, install, and maintain extensive infrastructures such as windmills, machines, and panels.
The construction industry accounts for the highest accidents than in other sectors. The rise in the number of infrastructure projects across the globe, especially in the US, the UAE, and China, is expected to generate awareness and demand for fall protection equipment. In the US, fall accidents are growing at an alarming rate, thereby increasing stringency in regulations. The Occupational Safety and Health Administration (OSHA) and the American National Standards Institute (ANSI) work to promote voluntary safety standards at workplaces to ensure employee safety. Government agencies and employee welfare organizations across several countries are making efforts to reduce the number of work-related accidents. Hence, the increase in campaigns and awareness programs will influence employers to install safety equipment, thereby increasing the growth of the fall protection market during the forecast period.
- In Canada, 26 Liquefied Natural Gas (LNG) export facilities have recently proposed, which is likely to drive the demand growth for access systems and harnesses.
- In the US, two construction workers die every day, and thousands get injured. These incidences are expected to drive employees to install fall protection equipment at their workplaces.
- In the UK, more than 50 oil wells are to be drilled in the coming years, which is expected to generate demand for fall protection equipment.
- In China, the demand for protective equipment is likely to rise due to over 2,900 construction projects in the pipeline.
The global fall protection market is expected to grow at a CAGR of over 10% during the period 2019–2025.
Fall Protection Market: Segmentation
This research report includes a detailed segmentation by product type, End-user, and Geography.
Insights by Product
Soft goods comprise harnesses, body belts, lanyards, and ropes. The application of harnesses is high in construction, oil & gas, mining, and energy industries. Harnesses are in demand as they offer high safety and security. They are experiencing a high application in the mining industry. Hence, the expansion of the oil and rig industry in North America is expected to drive the demand for harnesses. Lanyards reduce free fall distance and minimize injury risks. These types of soft goods are durable and flexible, which increases their utilization in construction activities. The demand for lanyards is expected to grow due to the increasing construction activities in the APAC and North American regions. Hard goods consist of anchors, karabiner, rope grabs, and retractable blocks. Anchors are highly capable of supporting intended loads and helping in fall arrest. The application of anchors is mandatory in the mining industry as it can maximize versatility and convenience among workers. The global expansion of the mining industry is likely to bolster the demand for anchors. Rope grabs enable level and inertial locking to prevent the fall and are the preferred options for vertical and horizontal lifeline systems applied in the construction and mining industry. The increasing installation of lifeline systems in the construction and mining industry is expected to drive the growth of rope grabs. Rescue kits prevent the employee from fall accidents. Stringency in occupational safety in the US is driving the demand for rescue kits as they are mandatory for all types of work environments. Hence, the increasing application of rescue kits due to regulatory compliance is expected to increase the revenue of the hard goods segment during the forecast period.
Insights by End-users
The construction industry is the major end-user of the fall protection system as it witnesses the highest incidences of accidents every year. The global construction industry accounts for more than one-third of workplace fatalities annually. The US, the UAE, Canada, Mexico, and China are the key countries for safety equipment in construction sites due to the high number of upcoming construction projects. As oil & gas industries are potentially more hazardous than any other industries, the exposure of physical, chemical, and biological toxins might increase the chance of falls and explosions that demand fall protection equipment. Retractable lifeline systems are widely preferred in the oil & gas industry due to high-security concerns. The growth in public investments and the probability of increased risks in workplaces are likely to trigger the demand for protective equipment. The demand is expected to be significant in countries such as Saudi Arabia and Kuwait as they are among the leading oil exporters in the world. Volatility in the mining environment is enforcing the adoption of fall safety equipment on a large scale. The demand for harnesses and belts is likely to increase as they are majorly used in the mining industry. The global mining industry is expected to grow at a rate of 3% until 2022. Thus, the demand for rescue kits, lanyards, and belts is likely to surge during the forecast period.
Insights by Geography
The increasing oil and rig activities in North America is expected to boost the demand for soft goods, access systems, and rescue kits during the forecast period. In the US, strict compliance to stated regulations, including OSHA, is likely to drive the market. Moreover, the increase in commercial construction, which consists of hotels, spas, amusement parks, and recreational facilities, is expected to drive the growth of the market. Increasing infrastructural developments in the Netherlands, Denmark, and Portugal is likely to drive the market in Europe. The construction industry in the European region is expected to generate $2,750 billion by 2023. With the rise in the number of construction projects, risks and hazards associated with employees are also estimated to rise in the coming years, thereby expecting to drive the demand for soft goods such as lanyards, ropes, harness and access systems, and rescue kits during the forecast period. The APAC region will grow at the fastest CAGR during the forecast period. The construction industry in APAC, excluding India, is estimated to reach over $5 trillion by 2021. China’s construction industry will grow over 4% by 2021 due to the development of several mega infrastructure projects, along with the construction of over 2,900 hotel projects. In the MEA region, the fall protection market is likely to grow due to significant investments in advance technology and infrastructural design. Oman, Qatar, and Kuwait are the major countries in the region, which are likely to invest tremendous growth.
Key Profiled Countries
- South Korea
- South Africa
- Saudi Arabia
Insights by Vendors
The fall protection market is fragmented, with a limited number of global players earning significant revenue. The margin of success always lies in the intensity of the differentiation among the products. Factors such as price, warranty, training methods, feasible access to the trainers, and durability of the products are expected to play a vital role in highlighting the major vendors. In price-sensitive countries such as India, there is a threat from the new entrants that offer non-certified equipment at low prices. Hence, global players are facing a significant challenge to establish a diverse market base in the country. Globally, the expansion through mergers and acquisitions is likely to be effective in the fall protection market. The vendors are expected to earn revenue through training, inspection, and services in underpenetrated regions of APAC, MEA, and Latin America. This can also increase the efficient usage of the fall protection equipment without misusing them and reduce the hazards that are being imposed due to improper usage. The prominent vendors, who generated significant revenue in North America and Europe, are likely to focus on the growing economies of APAC and Latin America. Several key vendors plan to develop a combination of platforms and guardrails in the developing countries of the APAC and Latin American regions.
- Pure Safety Group
Other Prominent Vendors – SKYLOTEC GmbH, Guardian Fall, Kee Safety, Werner, FallTech, Cofra, FrenchCreek, Safe Approach, Swelock Asia, Heightsafe, Hi-Rise Access, SafetyLink, Malta Dynamics, Buckingham Manufacturing, Elk River, Sellstrom, Rigid Lifelines
Key Market Insights
The analysis of the fall protection market provides sizing and growth opportunities for the period 2020–2025.
- Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
- Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
- Delivers a complete overview of segments and the regional outlook of the market.
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.
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